Anytime you are on the road with your motor vehicle it's always important to have this at the back of your mind. That the unexpected could happen. For this reason I will be explaining in details each and every category of motor Insurance.
Today I'm taking you through Comprehensive Insurance. We will seek to answer the following questions.
1. What's is comprehensive insurance?
2.What's covered ?
3. What's not covered?
4. What are the additional benefits
5. How much will it cost to comprehensively insure my motor vehicle?
6. Which vehicles are acceptable for this insurance?
Comprehensive Insurance can be defined as the most extensive auto insurance for it covers a wide array of events . It provides protection against you, your car and third parties against all possible risks.
Damage by animals
Civil disturbance (Riots)
Natural calamities (Flood, Landslides)
What is not covered?
Breakdowns as a result of wear and tear
Personal Injuries to the owner or his immediate family ( Recommended to buy a Personal Accident cover)
Drink and drive damages
Wrong use of the vehicle (Using your private car for taxi business)
For most insurance companies you pay an extra premium for this.
They are not mandatory.
Excess protector- In the eyes of most insurance companies it doesn't matter to them whether you were to blame or not when the accident occured. They will require you to pay or deduct from the amount they are bound to compensate you.
So we can define excess protector as the amount of money payable by you in the event of an accident.
The standard rate for excess protection is 2.5% of the vehicle's value with a minimum excess value of Ksh 20000.
Political violence and Terrorism risks
Cost of Comprehensive Insurance
The higher the value of your car the lower the rate for most of the companies.
Most companies have the minimum premium you can pay for your vehicle if the premium falls computed falls below the set rates.
There are some companies that doesn't accept some vehicle models and if they do it will cost you a leg and an arm to comprehensively insure your car.
Requirements for you to file a claim
Notify your insurance company/agent within 24 hrs
Copy of your ID
Copy of your Driving License (Shouldn't be expired.
It's important to take photos of the accident scene.
Reasons why an insurance company may fail to pay your claims.
Refer to the portion on what is not covered.
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